Intraday Live short term trading calls from an Expert Retail Forex Trader

[Forexmospherian]

News - so far dollar weak

 

[SpreadDoctor]

got to admit i am a bit flumoxed by the price action on GU. I have exited short and gone long anticipating them to make one more push into 99s before the sell off. difficult to read.

 

[Forexmospherian]

AU

An hr or so later - still not got under 78/79 yet

Still a sell under 82 - but no 77 and 73 - then might have to exit and look for scalp buys again

AU comment from over an hr ago

We never made under 77 and 73 - but we did then go over 82 and so i scalp bought at 85/6 after news and now taking 70% off at 9293/4

Above 85/6 on pullbacks - then another scalp buy

 

[Forexmospherian]

EU

Really does need above say 74 and 77 to hold scalp buys on longer for attempts above 3280/85

 

[Forexmospherian]

got to admit i am a bit flumoxed by the price action on GU. I have exited short and gone long anticipating them to make one more push into 99s before the sell off. difficult to read.

Agree - a bit of difficult pair now to read

For me can really only attempt holding scalp sells under 87 and then 78

Above 88 and 91 - scalp buys still

 

[Forexmospherian]

GU

The sting surely must be either 96/7 or 99 / 6602 - just to tease bulls in long - before then attempting under 78

Above 6602 - and staying above then 88 would suggest to me - bulls are winning

 

[Forexmospherian]

1 54 pm

GU - got another 6594/5 print then a pullback under 88

Out scalp buys at 92 - not in sells - but thinking now - will wait for either over say 98 /6600 to scalp buy - or wait for under 80 and 78 for scalp sells

In between - sitting on hands

 

[Forexmospherian]

EJ

Still falling after failing to breach above 137 84 for 2 hrs

Price now at 65 after a 63/4 low so far

Under 74 still a sell - but supports from 54 to 62 area - a cluster

 

[SpreadDoctor]

GU - i just dont understand at the moment why we are still trading this high if we had a bad number at 9.30 then the 1.30 number came in on the money. The only conclusion I can see is that they want to run the remaining shorts out before taking this lower. hence i exited my short and am long into 96-99 where i will likely re-short. I would be might peed off if the dropped it on me now, but these stitch ups happen. well see. GLGT

 

[NVP]

I see some nice sells on usd since around 11am ..........usd perhaps now weakening into weekend .......cad and aud showed most bullish behaviour to offer scalps .......

N

 

[SpreadDoctor]

F - don't know how the hell you trade all the pairs you do, 1 pair does my head in sometimes let along 4 or 5.

 

[Forexmospherian]

Yes got some pips on Cad and AU - even EJ - EU not bothered with - and GU - a real scalping test N ;-)

Trick is SD - multi screens - got 4 monitors and laptop atm and then I got so used to trading multi pairs over last 3 yrs - i gone from just 3 main pairs to now 6 -9 - but never more than 6 pairs in a day

If I can get a scalp into profit and leave 30% on with stop at a few pips profit or even break even - i can really forget about it - its a win -win - no stress - ie I either end up with just 1 -5 pips off it - or it works and carries on going my way - and then I might make 25 -50 even 500 pips - just moving the stop up every few hrs or whenever

In fact you could have say 6 x 30% "free trades" on ( no risk) with no extra exposure and just check every 30 /60 mins

But taking a loss - I am used to - after 15k + live trades - I must have had over 4000 at minimum

 

[NVP]

GU - i just dont understand at the moment why we are still trading this high if we had a bad number at 9.30 then the 1.30 number came in on the money. The only conclusion I can see is that they want to run the remaining shorts out before taking this lower. hence i exited my short and am long into 96-99 where i will likely re-short. I would be might peed off if the dropped it on me now, but these stitch ups happen. well see. GLGT

gbp index currency has been falling since early july.......its now around Nov 2013 levels and still falling.........usd has been doing the opposite since early july .........we certainly have a net bear GU at this point in the game with no med/long term signals to oppose that view as yet ......


N

 

[NVP]

F - don't know how the hell you trade all the pairs you do, 1 pair does my head in sometimes let along 4 or 5.

I only focus on probably 5-6 pairs for scalping....but I have to always keep my eye in on the G8 picture........its not too bad once you get the right screens up and then lay a little screen time down

I cant undertand F's charts ......but its all horses for courses.....

N

 

[SpreadDoctor]

Yes got some pips on Cad and AU - even EJ - EU not bothered with - and GU - a real scalping test N ;-)

Trick is SD - multi screens - got 4 monitors and laptop atm and then I got so used to trading multi pairs over last 3 yrs - i gone from just 3 main pairs to now 6 -9 - but never more than 6 pairs in a day

If I can get a scalp into profit and leave 30% on with stop at a few pips profit or even break even - i can really forget about it - its a win -win - no stress - ie I either end up with just 1 -5 pips off it - or it works and carries on going my way - and then I might make 25 -50 even 500 pips - just moving the stop up every few hrs or whenever

In fact you could have say 6 x 30% "free trades" on ( no risk) with no extra exposure and just check every 30 /60 mins

But taking a loss - I am used to - after 15k + live trades - I must have had over 4000 at minimum

i think if I attempted what you do I would have an insta-migraine. I used to have 5 screens but now just work off 2 x 24" when in the office or just off my laptop at home. tbh it's nice to have all the screens but I do just as well with my laptop only but then I dont need the real estate as I only trade 1 or 2 instruments at a time and dont use indicators.

 

[SpreadDoctor]

gbp index currency has been falling since early july.......its now around Nov 2013 levels and still falling.........usd has been doing the opposite since early july .........we certainly have a net bear GU at this point in the game with no med/long term signals to oppose that view as yet ......


N

got yer NVP. I was going to ask you a question about currency baskets. I wanted to create a custom indicator that was the dollar index (minus the cable) and a pound index (minus cable). This would then give me an idea of the dollar and pound strength with cable taken out of the equation. This could be useful for me as it would help me spot 'fake' moves in cable. I saw this software that allowed you to pull MT4 quotes into excel, I could then create my own custom basket and plot it. just havent got around to it. do you think it would be easy to do?

 

[NVP]

gbp looking to dip lower.........need usd to bounce though

 

[Forexmospherian]

i think if I attempted what you do I would have an insta-migraine. I used to have 5 screens but now just work off 2 x 24" when in the office or just off my laptop at home. tbh it's nice to have all the screens but I do just as well with my laptop only but then I dont need the real estate as I only trade 1 or 2 instruments at a time and dont use indicators.

i have to have breaks at least one every 2 hrs or so - just for 10 -20 mins etc - otherwise yes some days I would be having headaches etc etc

I target 50 pips a day on scalps - and so if I have more 30% trades - I need a lot more pips to hit my money targets.

Some days - I might just achieve my target off 2 or 3 pairs and say 6 -10 trades - other days - I might need 15+ trades to get there and I am searching for moves on all pairs etc - in my time windows

I suppose its what you get used to - blogging keeps me focused and useful for notes etc - otherwise - I would stop in afternoons and fall to sleep

 

[NVP]

got yer NVP. I was going to ask you a question about currency baskets. I wanted to create a custom indicator that was the dollar index (minus the cable) and a pound index (minus cable). This would then give me an idea of the dollar and pound strength with cable taken out of the equation. This could be useful for me as it would help me spot 'fake' moves in cable. I saw this software that allowed you to pull MT4 quotes into excel, I could then create my own custom basket and plot it. just havent got around to it. do you think it would be easy to do?

probably not for F's thread .........let me come back and we can discuss on my strengthmeter thread .......i'll post there and leave this as F's pure scalping thread

 

[Forexmospherian]

gbp looking to dip lower.........need usd to bounce though

YEP - we got EU and Au still trying up and GU teasing down

Not jumping in GU though until below 80 and 78 or above 98 and 6600

Not here for 3 pm news but back at 3 15 pm - got to collect son from station

See you a bit later and GL